Search Travel Market Report

algv HPTO
algv
mainlogo
www.travelmarketreport.com
  • News
  • Packaged Travel
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Niche & Luxury
  • Air
  • Training & Resources
  • Who We Are
    • Brian Israel
    • Briana Bonfiglio
    • Dan McCarthy
    • Dori Saltzman
    • Jennifer Arango
    • Kelly Fontenelle
    • Keri-Anne Slevin
    • Louis Intreglia
    • Tom McCarthy
algv

Berkshire Hathaway Insurance Group Invests In Technology

by Richard D'Ambrosio / May 27, 2016

Filing claims and getting paid via smartphone. Photo: Berkshire Hathaway

Most people don’t think of Berkshire Hathaway as a hip modern brand. Warren Buffett is a conservative, patient investor who still owns a flip phone and brags he has sent one e-mail his whole life. What many might not know is that his Berkshire holding company owns a travel-insurance business that is making a mark for itself by offering high-tech, consumer-centric products and services.

Berkshire Hathaway Travel Protection (BHTP) was launched in 2014, offering two basic products: AirCare, for all the usual common flight issues like cancelled or delayed flights and baggage protection; and ExactCare, which offers medical evacuations, trip cancellation insurance, and global travel assistance.

BHTP president Dean Sivley said the company’s early product development focused on solving the two main issues preventing three out of four travelers from buying travel insurance: price and the belief that filing a claim is difficult.

BHTP addressed the first issue by providing AirCare at fairly competitive prices. To address the second issue, it invested heavily in mobile technology, offering services like express deposits and smartphone baggage claims.

“We’ve always geared ourselves to appeal to everyone, from technologically-enabled older adults to millennials,” Sivley said. Last fall, BHTP and MasterCard announced an agreement where claim payments can now be made within seconds, sent directly to almost any personal account through a U.S. debit card.

So now, the majority of BHTP claims are paid electronically, and with lightning speed. For example, when TSA security delays recently stranded hundreds at Chicago’s airports, “we had customers who were getting money paid into their bank accounts while their flights were being rebooked.”

New app in the works
BHTP continues to invest in mobile technology and will be releasing a new version of its mobile app in the coming weeks. Sivley previewed some of the new features, including self-service flight rebooking and omni-channel support.

“With our new release, we’ll deal with our customers through whatever means they choose,” he said. “They could start a claim on the web, and then call us on their smartphone. Every interaction will be available to our agents and our system, whatever path the customer is on.”

The company is also upgrading its travel agent portal this summer, to make it easier for travel agencies to sell and service customers. One new feature is aggregated itinerary information to assist the agent in offering the right insurance products, and getting quotes more quickly. Another new feature will allow agents to e-mail insurance notifications directly to travelers.

Micky Dixon, president of Travel Planning for You in San Antonio, TX, has been very pleased with Berkshire’s customer service and agent portal.

BHTP’s agent portal “is similar to a dashboard that allows us to do everything in one place. I’ve been working with them since the launch in 2014 and they’ve been continually contacting us for feedback,” Dixon said. “Using their interface is so much easier than using their competitors. You simply click on the product you’re looking for, enter some info, and you’re finished.”

Additionally, the company is developing products to meet evolving traveler needs. Look soon for niche vacation insurance products covering categories like cruise, bridal, and adventure.

“Let’s say that your cabin isn’t ready when you board your ship,” Sivley said. “The idea is that you could file a claim on your phone and get a payment into your account for things like onboard meals, beverages, or something else that would make your inconvenience different.”

Sivley also described an adventure travel product called Adrenaline Care, for “thrill seekers who need more coverage than traditional travel insurance.” For example, Adrenaline Care would cover the more expensive gear that adventure travelers pack.

Because insurance is regulated at the state level, BHTP is still filing pricing and product terms. “We’re shooting for all products and rates to be filed and available for purchase by the end the year,” said Silvey.

Also look for BHTP to launch global insurance and corporate travel products in the next 6-12 months.

  3
  0
alg HPTO
Related Articles
Survey Reveals Americans Seek Mindful Travel in 2024
Allianz Adds “Cancel Anytime” Coverage to OneTrip Prime and OneTrip Premier
Allianz Releases New Travel Advisor Handbook
More Consumers Interested in Travel Insurance than Pre-Pandemic
Four Things Insurance Companies Wish Advisors Knew
Travel Insurance Made This Skeptic a Believer
7 Important Tips for Successfully Selling Travel Insurance
Trip Protection and Travel Insurance: Are They the Same Thing?
Offering Travel Insurance to Groups Can Boost an Agent’s Income
Berkshire Hathaway Launches New Adventure Travel Insurance

MOST VIEWED

  1. The Best Black Friday and Cyber Monday Travel Deals for 2023
  2. The Ten 'Most Christmassy' Towns in the U.S.
  3. Royal Caribbean Ups Daily Gratuity Charge
  4. How a Talent Shortage Is Threatening Agencies, and Why Underqualified Advisors Aren't the Answer
  5. U.S. State Department Warns Travelers About GPS Dangers in South Africa
  6. The Worst Airports for Holiday Flight Delays


  1. Royal Caribbean Monitoring Haiti Violence
  2. What Will Be the Biggest Travel Trends of 2024?
  3. The 10 Best Places to Spend Halloween in the U.S.
  4. Dondra Ritzenthaler to Join Azamara as CEO
  5. Iceland Travel Update: Southwest Earthquakes Heighten Risk of Volcanic Activity
  6. The World's Most Expensive Flights
TMR Subscription

Subscribe today to receive daily in-depth coverage, analysis of industry news, trends and issues that affect how you do business. Subscribe now for free.

Subscribe to TMR

Top Stories
Canada Updates Ireland Travel Advisory After Dublin Riots
Canada Updates Ireland Travel Advisory After Dublin Riots

The riots took place on Nov. 23. 

Read...
TSA Breaks Record on Sunday After Thanksgiving
TSA Breaks Record on Sunday After Thanksgiving

The agency screened more than 2.9 million passengers on Sunday.

Read...
Iceland Travel Update: Flight Operations Normal Amidst Volcanic Caution
Iceland Travel Update: Flight Operations Normal Amidst Volcanic Caution

As more time passes, the likelihood of an “imminent” eruption decreases.

Read...
Travel Agent Next Door’s Penny Martin Will Step Down Next Year
Travel Agent Next Door’s Penny Martin Will Step Down Next Year

Martin has been with TTAND since its inception. 

Read...
Most Common TSA Airport Checkpoint Mistakes (& Which States Make Them Most Often)
Most Common TSA Airport Checkpoint Mistakes (& Which States Make Them Most Often)

More than 59% of travelers across the U.S. have made a mistake at a TSA checkpoint in the last five years. 

Read...
Bad Weather Could Impact Thanksgiving Travel Across the U.S.
Bad Weather Could Impact Thanksgiving Travel Across the U.S.

Two storms could wreak havoc on travel this week in the lead-up to Thanksgiving. 

Read...
OUTLOOKS & WHITE PAPERS
Trends in River Cruise, 2023
European Travel Trends 2023
Winning in The Tech Era: Essential Insights for Travel Advisors
View All
Advertiser's Voice
//services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=c0852062-a67c-ee11-adc6-005056a855ed
Swan Hellenic: Beyond Ordinary
alg
About Travel Market Report Mission Staff Advisory Board Advertise
TMR Resources Webinars Calendar of Events Outlook/Whitepapers Previous Sponsored Articles Previous This Week Articles
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
71 Audrey Ave, Oyster Bay, NY 11771
News |Packaged Travel |Cruise |Hotels & Resorts |Destinations |Retail Strategies |Niche & Luxury |Air |Training & Resources |Who We Are
© 2005 - 2023 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | 243 South Street, Oyster Bay, NY, 11771 USA | Telephone (516) 730-3097| Terms and Conditions
Cookie Policy Privacy Policy